Teléfonica Germany wants to sell mobile towers because of debt

by Kelvin
Teléfonica Germany wants to sell mobile towers because of debt

Despite the austerity measures, the Telefónica Group has 40 billion euros in debt. The radio towers are to be sold, in Spain jobs are reduced and sold in other countries, the networks completely.

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Telefónica branch Dusseldorf | (c) Telefónica

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(c) Telefónica

Telefónica Deutschland checks the further sale of its mobile masts. This was announced by the company. It is being examined whether a large part of the 19,000 own locations can be sold to the telecommunications subsidiary Telxius of the Spanish parent company Telefónica.

Markus Rolle, Chief Financial Officer of Telefónica Deutschland, said: "This gives us the opportunity to release capital tied up in structures to increase our financial flexibility."The wireless technology is not affected and remains the property of the network operator

Spanish headquarters wants to sell

The sale comes from the Spanish corporate headquarters, which still has debts of 40 billion euros after nine consecutive quarrying quarters at the end of June. Telefónica has 130,000 antenna sites in operation worldwide, of which only 68,000 sites in twelve national markets belong to the group. The Telxius subsidiary already owns 18,000 sites, 50,000 of which are owned by Telefónica Group entities. More than 60 percent of the locations are in Spain, Great Britain, Germany and Brazil.

According to El Pais, the CEO of Telefónica could reduce up to 20 percent of the Spanish workforce. The plan provides for the early retirement of employees over the age of 53 and is being discussed with the unions. A similar program of the company had led to the premature departure of 6,300 employees since 2016.

In the first quarter, not only were ongoing costs reduced, but also three divisions in Central America sold to Millicom and two to America Movil. El Economista said last week that Telefónica is also investigating the sale of Movistar in Ecuador.

More about: Mobile operators

Source: Golem

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